Urbanization Management Strategies for South Africa
UNDRR estimated that the 50 years earthquake periodic loss in South Africa could be more than $14 billion, while for the 20 years earthquakes estimated remain $7 billion losses. Earthquakes can cause devastation, but, on the other hand, they can act as a catalyzer in urban renewal if authorities have access to accurate short-term earthquake risk transfer solutions.
Urban Sustainable Renewal
Thanks to the 4th industrial revolutions, it is now possible to detect a high-risk seismic time window, when the probability of unusual seismic activity is detected for a region.
These earthquake preparedness alerts are very helpful to transfer urban risks to the insurance industry from hours until a few days in advance. This way, instead of insuring aging buildings in urban renewal planning for 365 days, only risk of the high-risk time window will be transferred to the insurance industry, which notably decreases the risk transformation costs. Instead, as soon as insured assets encountered losses, no more crisis will be occurred, especially from the urban poverty aspect in regions like Johannesburg, Pretoria and Durban, which is undercover by Earling, to receive earthquake preparedness alerts.
South Africa Strategic Urban Regeneration
Natural disasters can easily cause crisis, which threatening resiliency and sustainability. Costly periodic earthquakes in south Africa prune to cause such level of crisis. But new technologies assists us to turn the disasters to an emerging opportunities, to improve the speed of urban regeneration, as follow:
- Insuring aging buildingsAvoiding from Urban poverty
- Using compensation as the urban planning fund
Well Known Risk Takers
Tackle your risks with our solutions to the big players. We propose enterprise companies as well as SMEs and individualizes the best time to purchase a new earthquake policy or extending the current coverage to make it inexpensive.
Currently, Japan, New Zealand, Greece, Turkey, Caribbean, Chile, Ecuador, Taiwan, Romania, Indonesia, California are the regions, which Munich Re accepts their risks. In addition, South Africa, Oklahoma and Utah are subject to further work. Also, between the regions that Earling issues Earthquake Preparedness Alerts, Japan, New Zealand, Caribbean, Chile, Ecuador, Taiwan, Indonesia and US (California, Utah) are undercover by Swiss Re to take the risks.
How we can help?
In general, Earling has a global seismic monitoring network and specialists that are subject matter experts. Regarding the challenges mentioned above, Earling is been able to deliver support.
- In the pressure on profitability, performance management and key performance indicator settings.
- In the entrance of parametric insurance markets and issuing alternative products, Earling can deliver independent advice by our global resources.
- To keep control on the impact of catastrophic events, Earling can assist in optimizing, validating on Cat and reinsurance programs modelling.